Image Credit: James Coldrey/WireImage.com; Everett CollectionYou’ve gotta admit it – being Will Smith’s kid is a pretty sweet gig. Last year, the box-office heavyweight and his wife Jada Pinkett Smith produced an update of The Karate Kid as a star vehicle for their 12-year-old son Jaden. It worked. The film raked in more than $350 million worldwide. Now, Variety is reporting that the Smiths are talking to Sony about adapting the Broadway musical chestnut Annie for their 10-year-old daughter, Willow.

As you’re no doubt well aware, Willow already has a burgeoning singing career thanks to her infectious bubblegum single “Whip My Hair,” so her turn as Little Orphan Annie isn’t just some larkish vanity project arranged by a doting dad. But if these reports are true (Sony and Smith’s spokesperson both issued a “no comment”), then Willow may soon be singing “Tomorrow.” And then there’s this tantalizing possibility: Jay-Z, who collaborated with Willow on “Whip My Hair” (and who’s already proven that he’s quite familiar with the lyrics to “It’s the Hard Knock Life”) may be involved to work on the musical’s tunes.

If Annie does happen – and let’s be honest, if Will Smith wants it to happen, it will happen – it wouldn’t be Willow’s first time in front of the cameras. She had a part in her dad’s year 2007 movie I Am Legend and has done voice work in the animated Madagascar sequels. It’s not known whether there would be a part in the film for her brother Jaden, but we can think of someone who seems like a pretty good fit for Daddy Warbucks.